US October propylene contract nominated down 1 cent/lb

01 October 2013 16:02  [Source: ICIS news]

HOUSTON (ICIS)--A US producer nominated a slight decline for October propylene contracts, sources said on Tuesday.

The producer nominated a fall of 1 cent/lb ($22/tonne, €16/tonne), which would put October polymer-grade propylene (PGP) contracts at 69.0 cents/lb and October chemical-grade propylene (CGP) contracts at 67.5 cents/lb.

US propylene has been experiencing thin trading in the past few weeks, with the most recent reported deal at 66 cents/lb in mid-September.

Typically, US propylene contracts settle 2-3 cents/lb above the latest trade.

Major US propylene producers include Chevron Phillips Chemical, ExxonMobil, LyondellBasell, PetroLogistics and Shell Chemical.

Major buyers include Ascend Performance Materials, Dow Chemical, INEOS and Total.

($1 = €0.74)

By: John Dietrich

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